The impact of change
Change is inevitable, and business has to undergo a change for a competitive advantage and make a company dominant in the technology industry. It identifies critical strengths, weaknesses, opportunities, and threats that affect most companies like Samsung and Apple.
Internal drivers of change
SWOT analysis Samsung
Samsung exhibits the highest levels of research and the development.-the The reason, why this is considered one of the main advantages of the organization, is that it indicates the highest levels of innovation.
Research shows that Samsung is currently enjoying the broadest range of product collection which includes mobile phones, sound systems, and audiovisual utilities.
Samsung is considered the best regarding establishing design features and the ability to come up with the most appealing innovations (King, 2004).
The company is known for designing the smallest MP3 player in the world. It enjoys the first mover advantage, whereby introducing advanced features in the LCD refrigerators is highly recognized.
In the past three years, Samsung increased its brand value by more than 80%.
The recent series of Smartphones that were launched by Samsung recently led to cannibalization.
Despite highly recognized for Samsung ability to produce the best hardware but most of its software s outsourced.
The Chinese tech companies seem to be mainly focused on the economy of sales, hence bringing poor market conditions primarily in India (King, 2004).
The company is having a problem of unrecognition in India due to the increasing dominance of Nokia in the region.
1. with the triple protection technology, the company is planning to strengthen the air condition product category.
2. Due to its strong financial position, Samsung is planning to enter into unrelated diversification.
3. In its attempts to increase the market share within the rural market, the company intends to launch customized products in India.
The company is known to own various product lines. In most cases, these product lines are codependent, which means that the failure of one could lead to the collapse of another. Such a condition could lead to product dilution (King, 2004).
Samsung has a significant number of competitors, which includes the growing number of Chinese products.
The company gets threatened whenever one brand of its product happens to fail since the failure of one product could lead to the ruined reputation of the entire line of products.
It is also difficult to increase the quality of products, which could lead to customers shifting to other brands.
Apple SWOT analysis
The company has a unique ability to produce unique products, which include proprietary hardware and software, as well as software. The products are highly innovative and easy to use.
The brand itself is powerful and its supported by its unlimited marketing capabilities. The company has unique and sophisticated tactics that it uses to keep itself on top of the other companies in the business thus being enabled by the company's spectacular marketing campaigns which involve proving the most satisfactory customer experience.
The organization has been able to exhibit global presence through its innovative marketing strategies. The company has established its market and presence in the entire world by making sure that its existence is witnessed globally (ZHAO, 2002).
The company's portfolio s limited as compared to other organizations like Samsung. In this case, creating other products poses as a vast innovative opportunity for the entire organization.
The company has made various acquisitions in the market which include the purchase of Siri, Shazam, and beats. The organization has a chance to involve more acquisitions which will enable it to dominate the entire market.
Many organizations today are looking to invest in sustainable energy sources. In this case, Apple can take that as an opportunity to come up with the most sustainable form of energy preferable to everyone (ZHAO, 2002).
The company is facing massive levels of competition from other organizations which makes it impossible to invest some different portfolios. Due to these high levels of competition, prices on some goods are likely to go higher or too low to be good for business.
The value of the dollar is another issue affecting the cost of goods produced by this organization.
The premium image, of the organization, is viewed as an advantage towards its dominance within the market. However, this premium state of the products can sometimes be a challenge to uphold and maybe make its rise.
As mentioned earlier, the organization does not invest in other electronic products making it hard for the organization to produce enough revenue in the business.
The products in this organization are sometimes too unique to be compatible with products from other organizations (ZHAO, 2002). For instance, it is hard to get spare parts of an apple laptop for repair.
The internal drivers of change include; capabilities, inventions desire, and inventions while the external drivers of change are customers, competitors, technology, government, and investors.
Both Samsung and apple produced high profits but compared to Apple, Samsung generates huge revenues annually. Similarly, both Apple and Samsung depend highly on R&D and innovation.
Today's technology keeps on growing every minute of the day. It is with no doubt that these technological changes have had significant effects on the financial sector. These two organizations have responded quite similarly to technology, hence resulting in slightly varying outcomes. Samsung, for instance, has been able to adjust accordingly based on the various changes in technology that involve financial transactions or customer's protection from fraud. In this case, Samsung ensures that its customers are well protected, but the customers have to first agree with the terms and conditions that incorporate the use of specific times that may bare different meanings. Users are required to provide passwords and usernames before they are allowed to access the site.
On the other hand, the Apple organization conducts extensive research on the online platform customers and then provide with solutions on how to handle various issues associated with the online platforms. For example, independent distributors have a connection to consumers, and then they control the flow of payment between the consumer and the distributor (Schein, 2001). Also, participants are encouraged to join the online platforms and also leave at their will. Apple has partnered with Axios presenting the Smarter Faster revolution in an attempt to educate the next generation. This partnership is meant to involve high profile thinkers who are highly experienced regarding technological innovation to offer solutions on how to adapt to the most recent changes.
Client requirements rapid evolution
Over the past few years, all the banks seem to have been putting more effort to meet the most updated bank requirements since customers come up with new demands every day which may result from having noticed new services from other banks. Samsung has put its efforts to ensure that needs of all generations are put into consideration while coming up with any system for the bank. For instance, researchers say that over the next decade, bankers will be dealing with both revolution and evolution. People will need more freedom and will also need to be less stressed. Currently, both Samsung and Apple seem to understand the trend, hence focusing on profitability only.
PNC is focusing on improving its equipment based on the user requirements while JPM has come up with meaningful topics that will be discussed amongst its committees to enhance their services hence meeting their customer requirements. The organizations have come up with various issues that they will have to direct their focus. These areas include technology and innovation, markets, global investment banking, and treasury services. On the other hand, Apple also focuses on physical presence to boost customer confidence and trust, since ethnology seems always to find a way of bringing a gap between the organization and its customers.
External drivers of change
The banking industry is faced with many regulatory impacts today which are mainly caused by political influence on trade. JPMorgan has been able to adjust accordingly after having planed regulatory response. Since these regulations are governmental, organizations can plan, before restrictions enactment. For instance, president Trump was elected to the leadership with an agenda to get rid of consumer financial protection and ensure change the Dodd-frank Act (Walter, 2009). Both the organizations came up with strategies to counter such regulations based on their potentiality.
Some other regulatory changes within the banking sector include the legislative reforms. These reforms include foreign reporting. Samsung Financial Services has initiated tighter interior controls and the proper isolation of duties to appraise every portion of the organizational monetary dealings. The internal controls had to be strengthened to ensure that all the financial operations are controlled efficiently.
This era introduced new ideas of continuous globalization. Consequently, every organization is working hard to come up with the best approaches to avoid competition, which even heightens the levels of competition. In an attempt to counter competition, an organization like Samsung could spend a lot of money and resources.
Measures to minimize adverse impacts of change within an organization and recommendations
An organization is meant to function to perfection whenever the individual contributors are comfortable with the procedures that lead to production within an organization. The initial step to remove the negative energy that may be brought by any alterations within an organization that has leaders who have a good knowledge of what they need to do and when supposed to be done (Kavanagh, 2006). For instance, it is essential to have a leader who understands the nature of a given change (evolutionary or revolutionary). He or she must realize how urgent a particular change is needed, and the community which is involved in the difference so that he can estimate the priorities.
The next step that a company like PNC will have to take is the decision making phase. During this time, the person in a position of leadership has already laid grounds for the change, and then the employees brought into the picture. They are made to understand the decisions made and the reasons behind the choices made. Plans are also made, based on the implementation of the change.
Organizational change response can be positively manipulated if proper communication strategies are initiated. It is critical to ensure that employees are informed through the proper channels. People within an organization might fail to understand why a particular change is being put in place if every aspect of the changes was not adequately addressed.
Any leader ought to understand whenever a particular change is fai...
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